The 3 Step Guide for Beginners: How to Buy Bitcoin in Canada – Explained

The 3 Step Guide for Beginners: How to Buy Bitcoin in Canada – Explained

There probably isn’t a person out there that hasn’t heard about Bitcoin. It is a cryptocurrency that has taken the world by storm and it really is no surprise that more and more people are interested in it every single day. Starting out means that you have to get your hands on coins, and when you are a beginner that can be tough, so to help make things a little easier for you, in this article we are going to show you how to buy Bitcoin in Canada in three easy steps.

Create a Bitcoin wallet

This is the most important step and the very first thing that you need to do before you start looking for coins. There are three kinds of wallets to choose from, desktop, hardware and one that can be installed on a smartphone, so the first thing that you should do is some research on each of the types and decide which one is the right one for you. The wallet will be the place where you keep all of your Bitcoin, so choosing the right one is key, but thankfully there are a lot of options to choose from. Regardless of the kind of wallet you choose to use, the good news is that they are pretty easy to set up and use.

Find the right service and make a payment

As we mentioned before, in order for you to start you need to find coins and the easiest and quickest way in which you can do that is by finding a good broker that can buy Bitcoin for you. However, if you are looking for better value for money and you really want to get more involved in the world of Bitcoin, then a great thing for you to do would be to create an account on an online exchange and get coins that way. This kind of registration would require some of your personal information, but that is something that depends on the amount of coins that you want to buy. The difference between these two options is the way that you make the payment. If you choose to go for a broker you give the money to them in exchange for the coins, and if you choose to go for an exchange you will have to send the money to the account and then use that money on the open market.

Get the Bitcoin

Once you have acquired your coins, you will be able to see the importance of the wallet when talking about how to buy Bitcoin in Canada because without the wallets, there is nowhere for your coins to go. Once you get in contact with either a broker on an exchange, they will require you to provide your wallet address and you won’t be able to get your Bitcoin until you provide it. Once you provide your wallet address, the transfer will be initiated and you will be able to see your coins in your Bitcoin wallet within an hour of the purchase.

When talking about how to buy Bitcoin in Canada, you may end up leaving the conversation feeling pretty intimidated. However, we hope that by reading this article you will be able to see that the process is actually fairly simple and there are steps that you can take in order to make things simpler for yourself. So keep this article in mind when you start your Bitcoin journey and use these three simple steps for some great results.